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Warner Bros Discovery Q4 Revenue Slips On Ad And Studio Softness; Company Touts “Significant Operating And Financial Gains” In Streaming

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Warner Bros Discovery revenue fell 11% to $11 billion (or a drop of 9% when foreign exchange fluctuations are excluded), mostly due to advertising softness and tough studio comparisons.

EBITDA also tumbled 5% to $2.6 billion. Shares in the media giant shed as much as 5% in after-hours trading as investors digested the decidedly mixed report, though they later rebounded to positive territory.

On the plus side for the company, DTC losses narrowed and free cash flow improved, with those metrics among those the company is highlighting as it forges ahead with a massive revamp.

In the earnings release, CEO David Zaslav pointed to “significant financial and operating” gains in streaming during the quarter.

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